What is Title Insurance
In Real Estate, title means a Right to Ownership, or a document stating a Right to Ownership.
Various kinds of claims can "cloud" a title. Some examples are:
Keeping it Safe
The best way for you to protect your interest in a Real Estate transaction is obtain the services of a Title Insurance Company.
What will the Title Insurance Company do for me?
Trained personnel will perform a title search to verify ownership and to identify any possible "clouds" on title.
Next, the title insurance company will insure the new owner against the possibility of error or forgery in the transfer of title.
Owners Policy - Protects the new owner in any subsequent claims to the property
Lenders Policy - Protects the lender against loss of unpaid loan balance in the event of a claim.